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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

 
PayPal to let you buy and sell...
PayPal has partnered with cryptocurrency company Paxos to launch a new service. PayPal users in the U.S. will soon be able to buy, hold and sell cryptocurrencies. More countries are coming soon. PayPal plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin at first. You’ll be able to connect to your PayPal account to buy and sell cryptocurrencies. Behind the scenes, Paxos takes care of trading and custody. In early 2021, PayPal wants to let you use your crypto...

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Leading a $15 million round, Prosus Ventures...
Klar, a new online bank based in Mexico City, has become the first big bet that Prosus Ventures (the firm formerly known as Naspers Ventures) is taking in Latin America outside of Brazil. Founded by Stefan Moller, a former consultant at Bain & Co. who advised large banks, Klar blends Moller’s work experience in Mexico with his connections to the German banking world and the tech team at Berlin-based n26, to create a challenger bank offering deposit and credit...

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VCs reload ahead of the election as...
This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here. It was an active week in the technology world broadly, with big news from Facebook and Twitter and Apple. But past the headline-grabbing noise, there was a steady drumbeat of bullish news for unicorns, or private companies worth $1 billion or more. A bullish week for unicorns The Exchange spent a...

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Pear hosted its invite-only demo day online...
Pear, the eight-year-old, Palo Alto, Calif.-based seed-stage venture firm that has, from its outset, attracted the attention of VCs who think the firm has an eye for nascent talent, staged its seventh annual demo day earlier this week, and while it was virtual, one of the startups has already signed a term sheet from a top-tier venture firm. To give the rest of you a sneak peak, here’s a bit about all of the startups that presented, in broad...

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Crypto-driven marketplace Zora raises $2M to build...
Dee Goens and Jacob Horne have both the exact and precisely opposite background that you’d expect to see from two people building a way for creators to build a sustainable economy for their followers to participate in. Coinbase, crypto hack projects at university, KPMG, Merill Lynch. But where’s the art? “Believe it or not, I used to have dreams of being a rapper,” laughs Goens. “There’s a Soundcloud out there somewhere. With that passion you explore the inner workings...

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Alpaca raises $10M Series A for its...
This morning Alpaca, a startup that helps other companies add commission-free equities trading to their own products, announced a $10 million Series A. The new capital event was led by Portag3, and included prior investors Social Leverage, Spark Capital, Fathom Capital and Abstract Ventures. The company previously raised a $6 million pre-seed and $6 million seed round that TechCrunch covered last November. Alpaca is a company that has cropped up in our coverage of the startup and private capital...

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Stripe acquires Nigeria’s Paystack for $200M+ to...
When Stripe announced earlier this year that it had picked up another $600 million in funding, it said one big reason for the funding was to expand its API-based payments services into more geographies. Today the company is coming good on that plan in the form of some M&A. Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of...

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Khosla Ventures seeks $1.1 billion for its...
Khosla Ventures, the eponymous venture firm helmed by longtime Silicon Valley rainmaker, Vinod Khosla, is raising  $1.1 billion for its latest venture fund, according to documents from the Securities and Exchange Commission. The filing was first spotted by Ari Levy over at CNBC. Khosla, whose investing career began at Kleiner Perkins Caufield & Byers (back when it was still called Kleiner Perkins Caufield & Byers) is rightly famous for a number of bets on enterprise software companies and was...

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Twitter hack probe leads to call for...
An investigation into this summer’s Twitter hack by the New York State Department of Financial Services (NYSDFS) has ended with a stinging rebuke for how easily Twitter let itself be duped by a “simple” social engineering technique — and with a wider call for key social media platforms to be regulated on security. In the report, the NYSDFS points, by way of contrasting example, to how quickly regulated cryptocurrency companies acted to prevent the Twitter hackers scamming even more...

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London Business School and LocalGlobe launch new...
With the UK’s Black Tech Fest on this week it’s timely that a new executive education course aimed at those wanting to enter the venture capital industry has been launched to serve previously under-represented groups, especially women, Black, Asian and other minorities. London Business School and LocalGlobe, one of Europe’s leading seed investors, worked together to created two new programs to provide formal business education for roles across the VC world. The Newton Venture Program courses will cover the...

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4-year founder vesting is dead
Jake Jolis Contributor Jake Jolis is a partner at Matrix Partners and invests in seed and Series A technology companies including marketplaces and software. More posts by this contributor 2019 saw a stampede of fintech unicorns We recently invested in a team of co-founders who had voluntarily made their own vesting longer than four years. Four-year vesting is the industry standard. Why would someone voluntarily make it longer for themselves? Their answer: “These days, with companies taking seven to...

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Equity Monday: Twilio buys Segment, and Airkit...
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This is Equity Monday, our weekly kickoff that tracks the latest big news, chats about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and myself here — and don’t forget to check out last Friday’s episode. So, what was on our minds this morning? Headlines: The...

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China’s digital yuan tests leap forward in...
Shenzhen, known for its maker community and manufacturing resources, is taking the lead in trialing China’s digital yuan. Last week, the city issued 10 million yuan worth of digital currency to 50,000 randomly selected residents who applied. The government doled out the money through mobile “red envelopes,” a tool designed to digitize the custom of gifting money in red packets and first popularized by WeChat’s e-wallet. “Red packets are a common way we’ve seen in China Internet companies to...

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AC Ventures announces the first close of...
As one of the world’s most populated countries, with a fast-growing internet economy, Indonesia offers plenty of opportunity for startups. AC Ventures wants to tap into that with its $80 million ACV Capital III L.P. fund. The firm announced the first close of the fund today, with $56 million already committed. The capital will be invested into 30 Indonesian startups over the next three years, with first checks of up to $3 million going to seed to Series A-stage...

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India’s Razorpay becomes unicorn after new $100...
Bangalore-headquartered Razorpay, one of the handful of Indian fintech startups that has demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising $100 million in a new financing round, the payments processing startup said on Monday. The new financing round, a Series D, was co-led by Singapore’s sovereign wealth fund GIC and Sequoia India, the six-year-old Indian startup said. The new round valued the startup at “a little more than $1 billion,” co-founder and chief...

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